Thanks to all who recommended that I skip the private sale and hire a hire a realtor. We never did get a private offer, but I believe the realtor made us money. Now we are looking at buying a home in another city. We love the area and city. We have our eyes on a house, and are planning a trip to go see it.
The house does have some major cosmetic issues visible in the pictures (mostly paint). That contributes to it being on the market 173 days, with two price reductions. And we’ll hire a home inspector to look for other problems. We’ve planned to spend up to $150,000 in repairs and improvements after the purchase (no mortgage either). House is sold as is.
My primary question is how best we can find a realtor out of state?
Any other advice for making an offer on a home in need of repair?
Your realtor will often be able to recommend one – usually based on membership in national organizations. Many companies franchise nationally. Remax. Berkshire Hathaway has one.
Big companies tend to be reliable. But as with any financial deal, interview them and find one you like.
My primary question is how best we can find a realtor out of state?
Ask your current realtor for any referrals in your new area. If you have friends/family in the new area, ask them for any referrals. Look for reviews on real estate sites and/or review sites. If you have time, go to a few open houses in the new area. Once you have found a few realtors from those sources, interview them.
Any other advice for making an offer on a home in need of repair?
Have your realtor show you other homes in the area, too, to be sure that when you add the cost of repairs (including at least 10% for overages) to the cost of the home, you aren’t going to pay too much for the area. If you are planning on using a contractor, get at least one (preferably 2 or 3) estimate on the repairs you will be making before actually making the offer. If you are doing the repairs yourself, be sure to price materials (including sales tax) in your new area and not rely on how much materials would have cost in your previous area.
So I found my realtor. Lots of good reasons we are picking him. One issue, he is also the agent on one of the houses we want to look at. The state doesn’t prohibit dual agency, just a disclosure.
Should I get another agent to view this one specific property? I feel I’m more knowledgeable than the owner, and would have a slight upper hand in negotiations. I would likely hire a local real estate attorney to ensure I am protected at closing.
Should I get another agent to view this one specific property?
You should ask your agent about how they would suggest that it be handled. When I have purchased property with this issue, my agent offered to let me use another agent in their office, if I didn’t feel comfortable with them handling both sides. In my case, I had been working with my agent for years, so I did feel comfortable.